Catch Up with the Latest Global Gambling Regulation Developments
Slotegrator has published a summary of some of the most important international developments in the iGaming industry to have occurred in August.
To begin with, a number of slot studios were granted licenses in Germany. Germany’s new regulations have attracted a great deal of criticism but this didn’t prevent five brands, including Novomatic, from pursuing licenses in the region. There are still doubts surrounding the effectiveness of the regulations, but clearly the company’s applying for licenses believe that it is still a profitable market.
Meanwhile, Peru has become the latest Latin American country to create a regulated market. President Pedro Castillo Terrones signed a law that introduced a regulatory framework for online gambling. The official regulator is the country’s Ministry of Foreign Trade and Tourism. The regulations stipulate that operators must pay a 12% monthly tax on the total tax base, which is calculated by subtracting the maintenance costs from the net income.
Uruguay has also been developing its gambling laws and on August 16 the country’s senate passed a bill to regulate online gambling. If the bill becomes law, the General Directorate of Casinos of the Ministry of Economy and Finance will be overseeing the industry. The Directorate would also be tasked with creating a fund that would donate between 5% and 8% of gross income towards preventing gambling harm.
Over in Australia, The Northern Territory Racing Commission is exploring the idea of using cryptocurrencies as a payment method. In the past, the NTRC has come out against the use of cryptocurrencies for gambling transactions but it appears it has changed its attitude and is now looking at ways to allow players to place bets in cryptocurrencies without the need to convert them to fiat currencies.